Get the free Beneficiary designation and authorization form FPP

Beneficiary designation and authorization form (FPP) Return completed form to: Sun Life Financial, Group Retirement Services PO Box 11001 STN CV, Montreal QC H3C 3P3 Please PRINT clearly. 1 Not :

How to fill out beneficiary designation and authorization

How to fill out beneficiary designation and authorization:

1. Review the form: Start by carefully reading through the beneficiary designation and authorization form. Make sure you understand the purpose of the form and the information it requires.
2. Personal information: Begin by entering your personal information accurately. This may include your full name, date of birth, social security number, and contact details.
3. Policy information: Provide the necessary policy details, such as the policy number or account number, and the name of the insurance company or financial institution.
4. Beneficiary information: Identify the beneficiaries by providing their full names, relationship to you, and their contact details. Specify the percentage or the specific amount you want to allocate to each beneficiary.
5. Contingent beneficiaries: Consider including contingent beneficiaries, who will receive the benefits if the primary beneficiaries are no longer alive. Provide their details following the same format as the primary beneficiaries.
6. Witness signatures: The form may require the signatures of witnesses to ensure its validity. Make sure the witnesses are eligible and follow the provided instructions to ensure proper execution.
7. Review and submit: Before submitting the form, carefully review all the information you have entered. Double-check for any errors or missing details. Once satisfied, sign the form and submit it as instructed by the insurance company or financial institution.

Who needs beneficiary designation and authorization?

1. Individuals with life insurance policies: People who have life insurance policies often need to designate beneficiaries to receive the policy benefits upon their death.
2. Account holders of retirement plans: Beneficiary designation and authorization are crucial for individuals with retirement plans, such as 401(k)s or IRAs, to ensure the proper distribution of their funds after their passing.
3. Individuals with investment accounts: Some investment accounts, such as brokerage accounts or mutual funds, require beneficiary designation to determine who will inherit the assets held within the account.
4. Policyholders of annuities: Annuities typically require beneficiary designation so that the designated beneficiaries can receive the remaining funds upon the annuitant's death.
5. Individuals with pension plans: Pension plans often require beneficiaries to be designated to ensure that the benefits are transferred to the desired individuals after the plan participant's death.

In summary, filling out a beneficiary designation and authorization form involves providing personal and policy information, identifying beneficiaries and contingent beneficiaries, securing witness signatures, and reviewing before submission. This process is necessary for individuals with life insurance policies, retirement plans, investment accounts, annuities, and pension plans.

For pdfFiller’s FAQs

What is beneficiary designation and authorization?

Beneficiary designation and authorization is a legal document that allows an individual to specify who will receive their assets or benefits in the event of their death.

Who is required to file beneficiary designation and authorization?

Anyone who has assets or benefits that they wish to designate a beneficiary for is required to file beneficiary designation and authorization.

How to fill out beneficiary designation and authorization?

To fill out beneficiary designation and authorization, you will need to provide information about yourself, the beneficiary you are designating, and details about the assets or benefits being designated.

What is the purpose of beneficiary designation and authorization?

The purpose of beneficiary designation and authorization is to ensure that assets or benefits are properly distributed to the intended recipient upon the individual's death.

What information must be reported on beneficiary designation and authorization?

Information such as the individual's name, the beneficiary's name, relationship to the beneficiary, and details of the assets or benefits being designated must be reported on beneficiary designation and authorization.

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